March ISM Prints 61.2, In Line With Expectations Of 61.0, Lower From February 61.4, Prices Paid Surge Continues

Tyler Durden's picture

As usual the story remains the Prices Paid index, which increased again from 82.0 previously to 85, surging above expectations of 82.9. New Orders declined to 63.3 from Prev. 64.4, Employment rose again to 63.0 vs. 55.6 prior. Elsewhere, Construction Spending plunged to -1.4% on expectations of -0.2%, but it's an "improvement": last month's print of -0.7% was revised to -1.8%.

From the ISM press release:

  • "Customer orders have picked up nicely. [This is] likely in
    anticipation of increasing prices due to commodity costs that will
    likely happen over next month." (Food, Beverage & Tobacco Products)
  • "New orders continue at a robust pace this month." (Miscellaneous Manufacturing)
  • "What will be the impact to the U.S. supply chain after the devastation caused by the Japan earthquake?" (Chemical Products)
  • "The building side of our business is mired with little hope of a rebound anytime soon." (Fabricated Metal Products)
  • "Steel and certain steel products causing concern over price increases and availability." (Machinery)

More importantly, the Prices Paid index:

Full report

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Racer's picture

there go the P/Es even higher as margins squeezed but who cares... only computers trading this

oogs66's picture

good thing i didn't have the data beforehand, i might have made the mistake of thinking its negative

Cognitive Dissonance's picture

The wonderful thing is that you can't find what you're not looking for. As long as the Fed doesn't actually look for inflation, they won't find any.


Cdad's picture

Gee Tyler.  Why so glum?  Embrace the is the only thing we need anymore.

"Computer...lower prices paid 78.  Raise New orders to 104."


Why is everyone so worked up about stuff today, man?  Cocktails started 30 minutes ago.  Buy the SPY and let the wealth effect take if from there.  For all other things, ask the computer in the room next to where Duncan Niederauer has his afternoon constitutional.  But be quick...'cause I understand the Germans are buying him out.


ibjamming's picture

Why not?  Insure you have a hand or two around their neck...keep them in line...and most importantly...keep them on that dollar standard.

NOTW777's picture

guess we both had the same focus

gordengeko's picture

How much more obvious can it be that the WORLD is owned by someone(s)???  Countries like the good 'ol US of A are NOTHING more than a bankrupt corporation.  There are no countries only corporations posing as nations.  Do your homework people.

alien-IQ's picture

You have meddled with the primal forces of nature, Mr. Beale....

(this perfectly sums up what you are saying.)

gordengeko's picture

I've seen that, was looking for that before.  Nice!

alien-IQ's picture

That is a truly GREAT film. One of my all time favorites.

The "Mad as Hell" monologue is the perfect anthem for our times.

firstdivision's picture

Construction spending is tumbling down as well.

RobotTrader's picture

Meanwhile, investors are celebrating this news, and they are pushing travel and leisure stocks up.

PCLN and WYNN now printing world record highs.



Who would have guessed that William Shatner would have outwitted:

- Jim Sinclair

- Eric King

- Jim Rickards

- Peter Schiff

- John Williams

and the rest of the perma-gloomer crowd???

No wonder Shatner is getting in the sack with Hollywood superstars lately....

Move over Jesse James....


Cdad's picture

"Computer...end Robo program.  Divert power to S. Bullock's botox injections."

gordengeko's picture

Damn she looks good for 50.

alien-IQ's picture

clearly none of this is preventing the DOW from printing fresh new multi year highs. Why?....WHY NOT?!

scratch_and_sniff's picture

The more i participate in these markets i have accepted something over the years as nothing but the stone cold truth; we dont have the slightest clue as to whats actually happening.

alien-IQ's picture

oh...I think you and I and many people know exactly what's happening...but it's just too horrible to admit. It's almost like saying "MacBeth" in a theater...none dare speak the name.

alien-IQ's picture

and once of the opening bell...the $DXY goes straight down without interruption.

you gotta hand it to them...they are consistent if nothing else.